Shipping
NEOT is an active player in maritime transportation, particularly in the Baltic Sea and the Norwegian coastal area. We transport gasoline, diesel, different product components, and other refined oil products by sea to terminals in Finland, Sweden, and Norway.
The majority of NEOT's maritime transportation is carried out by six vessels time-chartered from a Swedish shipping company Terntank.
By utilising different freight options,
we ensure a safe, cost-effective,
and flexible distribution chain.
The majority of NEOT’s maritime transportation is carried out by six time-chartered vessels, and the remaining shipments are handled through either long-term cooperation agreements (COA, Contract of Affreightment) or spot contracts (SPOT) with chartered vessels. By utilising different freight options, we ensure a safe, cost-effective, and flexible distribution chain. We continuously seek new responsible ways of operating and strive to maintain our flexibility in responding to market changes.
A long-term cooperation with Terntank
Our time-chartered vessels are leased from the Swedish shipping company Terntank. With these time-chartered vessels, we ensure smooth deliveries to terminals and customers in Finland, Sweden, and Norway. We also offer the vessel capacity for the use of third parties whenever possible, considering the ships’ schedules and the market situation. Out of the six vessels leased by NEOT, five are equipped with dual-fuel engines, which can use both traditional marine fuel and environmentally friendlier liquefied natural gas or liquefied biogas (LNG or LBG).
NEOT and Terntank have had a successful partnership since 2013. During the first decade of collaboration, NEOT and Terntank worked on groundbreaking projects, including the operation of vessels using LNG and LBG. As the latest step towards lower emission shipping operations, NEOT has introduced hybrid battery systems and onshore power connections on its vessels, to reduce emissions in port areas.
Time-chartered vessels
Technical information of NEOT’s time-chartered vessels
MT Tern Ocean
Built: 2017
Ice class: 1A
DWT/CBM: 15000/16500
LOA: 147 m
Draft: 9.0 m
Time-chartered by NEOT since August 2022.
MT Tern Fors
Built: 2021
Ice class: 1A
DWT/CBM: 15000/16400
LOA: 147 m
Draft: 9.0 m
Time-chartered by NEOT since May 2022.
MT Tern Island
Built: 2021
Ice class: 1A
DWT/CBM: 15000/16400
LOA: 147 m
Draft: 9,0 m
Time-chartered by NEOT since February 2022.
MT Tern Sea
Built: 2016
Ice class: 1A
DWT/CBM: 15000/16500
LOA: 147 m
Draft: 9.0 m
Time-chartered by NEOT since December 2016.
MT Ternsund
Built: 2016
Ice class: 1A
DWT/CBM: 15000/16500
LOA: 147 m
Draft: 9.0 m
Time-chartered by NEOT since August 2016.
MT Ternholm
Built: 2005
Ice class: 1A
DWT/CBM: 14825/15808
LOA: 141,2 m
Draft: 9.0 m
Time-chartered by NEOT since December 2013.
New innovative vessel enters
the fleet in 2025
The environmental impact of shipping operations is significantly influenced by the condition and age of ships, so for years, we have consistently invested in our fleet.
In 2025, our fleet will be strengthened with an entirely new vessel equipped with wind-assisted collapsible rotor sails, as well as a dual-fuel engine that enables the use of low-carbon green methanol. This innovative vessel represents a significant step towards more sustainable maritime transportation.